ICON Foundation signs blockchain MoU with SK Planet

ICON Foundation, a South Korea-based blockchain project, has signed a memorandum of understanding (MoU) with SK Planet, a provider of e-commerce, online-to-offline services and digital marketing.

The two companies intend to work together to “create new customer values and business opportunities” by linking ICON’s blockchain technology with SK Planet’s mobile services such as OK Cashbag and Syrup.

They also want to transform the digital marketing framework for existing brands and develop a mid-term and long-term roadmap to enhance the customer experience in both online and offline areas. The teams will work together to support small and medium-sized enterprises (SMEs) in an attempt to boost the local economy.

Real life use case

“To that end, we will foster a healthy blockchain industry through support of blockchain developers and cooperation with academia,” ICON says.

“Blockchain appears to be one of the key technologies that will promote market transformation in existing industry for the medium- and long-term,” adds JM Park, Head of the marketing platform division at SK Planet, a subsidiary of South Korea’s SK Telecom. “SK Planet will work with ICON to derive synergies in various fields so that we can offer differentiated benefits to our customers.”

ICON says it hopes to create a synergy effect between its technology and SK Planet’s large-scale users, thereby creating a real life blockchain use case.